FedEx Corporation

Founded in 1973, FedEx Corporation is a logistics, transportation, and related information Service Company that is based out of the United States. The company’s goal is to provide the highest quality service to its customers, in a manner appropriate to each market segment served. In 2009 FedEx Corporation Consolidated revenue was reported as $35,497,000,000, indicating a 6% decrease from 2008’s 10-K report. The Consolidated Net Income in 2009 was set at $98,000,000. In 2008 it was listed as $1,125,000,000, a 91% decrease. The company believes that the worsened global economic conditions of 2009, was a major contributor to FedEx Corporation’s lower revenue and earnings. Their results are said to reflect a decrease of demand for most of their offered services, particularly the FedEx Express and FedEx Freight branches.

As a response to weak business conditions, FedEx reduced salaries for their U.S. employees, eliminated a variety of compensation payouts, and reduced labor hours and line-haul expenses. The company, as a result, has exercised strict control over discretionary spending: travel and entertainment and professional fees. Further, FedEx has made adjustments to their routes and equipment types that coincide with current demand levels.

Frederick W. Smith, Chairman, President and Chief Executive Officer (Principle Executive Officer), received $8,479,584 in 2009, a 22% decrease from 2008, and a 50% decrease from 2007. Executive Vice President and Chief Financial Officer (Principle Financial Officer), Alan B. Graf Jr. in 2009 received $3,843,005. His total income has decreased 13% since 2008, and 42.6% since 2009.

Sources:
10-K
PROXY STATEMENT